For decades, housing has been a major concern of our country, in the same way as employment or healthcare. Since 1960, the most vulnerable people have been the first victims of land speculation. This has resulted in the growing exclusion of our fellow citizens, who legitimately wish for decent housing. Wanting to help in someway, we have chosen to contribute to actions aimed at improving this situation. This has taken the form of financial support for the government’s ambitious housing project.
Housing situation in West Africa: the disparity amongst citizens
To better understand the housing crisis that our country is going through, it is necessary to draw up an objective overview of the situation. Firstly, between 1960 and 2020, the number of inhabitants rose from 3.21 million to 16.74 million, an increase of nearly 422.1% in 60 years. In 2020 alone, the population growth rate was +3.06%. Another contributing factor is that of urbanization and the development of slums, which represent nearly 40% of housing in Senegal.
Faced with such a situation, the supply of housing in Senegal no longer meets the demands of the country’s current population. I am thinking in particular of those individuals with low or irregular incomes, such as start-up entrepreneurs, who are ever more numerous in our country. They are faced with difficulty in financing their mortgage, as the classic mortgage issued by Senegalese banks is not suitable to their profile compounded by a lack of trust from the credit institutions.
Meanwhile, the housing deficit continues to grow (150,000 in Dakar and 350,000 in the rest of the country).
Real estate in Senegal: a challenge for public authorities and the private sector
For the Senegalese public authorities, real estate represents a major challenge: that of providing each citizen with the means to live decently. For this, an ambitious real estate and land promotion policy has been carried out for several years, with an appropriate financing program. In this regard, we herald the many interventions of President Macky Sall who, again recently, promised to make housing “a vector of jobs and a means of social integration” .
The state, therefore, has several means at its disposal to make housing affordable through measures that effect household income, housing prices and financing conditions. The private sector also has a role to play. The Locafrique leasing company that I chair is fully in line with this objective: from 2021, I signed agreements with the authorities, as part of the 100,000 housing project, initiated by President Macky Sall. It’s a project focused on providing decent housing for all. In total, we have offered to commit ourselves financially up to 31,200,000 $ (20 billion FCFA), spread over two years. Such an initiative should ultimately stimulate employment and encourage the creation of one million jobs over the next five years, because when real estate is doing well, the job market also thrives.
Current situation and work-in-progress
Each initiative of the Locafrique company is undertaken as an opportunity to effectively help the public authorities, and to bring about concrete, visible and measurable results. When it comes to our commitment to real estate, we set ambitious goals. Among these is the sustainable elimination of slums by 2035, while developing a program of decent housing that is financially accessible to all households.
The 100,000 housing project is currently underway. On January 8, 2021, we signed a Memorandum of Agreement with the Minister of Urban Planning, Housing and Public Hygiene (MULHP), Abdoulaye Saydou Sow. This project is led by Société Immobilière d’Investissement (S2I), a subsidiary of Locafrique. Two types of housing are planned: social housing (composed of 2 bedrooms and 1 living room) and so-called “economic” housing (with 3 bedrooms and 1 living room).
I am personally very happy to see these two entities cooperating for the construction of social housing for the Senegalese people at affordable prices.
The medium-term objectives
Since the signature of the Memorandum of Agreement, the 100,000 housing project has been moving forward quickly. This situation allows us to hope, as a private partner, for the delivery of social housing within a reasonable time.
Programme 100 000 logements
Les premiers acquéreurs ont visité le site de Bambilor et signé leur acte d’acquisition. Ils pourront récupérer leurs clés de maison sous peu.
Ce projet cher à @Macky_Sall est désormais réalisé. D’autres sites suivront. pic.twitter.com/QcAn4T53AJ— Ministère Urbanisme logement et hygiène publique (@MULHPSenegal) June 7, 2022
“100,000 lodgings Program. The first occupants visited the site of Bambilor and signed their deed of acquisition. They will soon be in possession of the house keys.This important project for @Macky_Sall is at last finalized. Others will follow. “
The first phase of the project plans for the construction of 429 villas on a total surface area of 359 000 sq yd (30 ha), for a unit value of less than 19,000 $ (12,000,000 FCFA) . The second phase will consist of the construction of 172 economic villas.